First Citizens Bank to , Buy Silicon Valley Bank.<br />NPR reports that the FDIC made the announcement on March 26.<br />First Citizens will buy all of Silicon Valley Bank's (SVB) deposits and loans.<br />First Citizens will buy all of Silicon Valley Bank's (SVB) deposits and loans.<br />SVB customers will automatically <br />become First Citizens customers.<br />The new branches will open on March 27.<br />SVB's failure marks the second-biggest U.S. bank collapse after Washington Mutual in 2008.<br />SVB's failure marks the second-biggest U.S. bank collapse after Washington Mutual in 2008.<br />Signature Bank, which collapsed two days later, marks the third-biggest U.S. bank failure. .<br />The banking system continues to remain <br />on edge as depositors worry about the <br />health of the country's financial institutions. .<br />NPR reports that 11 of the largest <br />banks in America revealed a $30 billion <br />rescue package to alleviate fears.<br />First Citizens' acquisition of SVB will give the FDIC $500 million worth of shares in its company. .<br />First Citizens says it has over $100 billion in assets and more than 500 branches.<br />The bank reported a <br />$243 million net profit last quarter
